Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - gst reports
How do I match the GST report with the sales ledger report when cash bills are missing in GST?
If cash bills are missing in the GST report, you can use the supply outward register of GST report, which showcases both B2B and B2C data entries in BUSY. Then, you can easily cross-verify the sales ledger data with GST sales data.
To check supply outward register, follow these steps:
Step 1: Go to Display and click on the GST reports tab
Step 2: Then select GST register and click on supply outward register
How can I ensure that the taxable value of items is displayed in my GSTR- report in BUSY?
To ensure that the taxable value of items is displayed in your GSTR-2 report in BUSY , you need to make sure that
Step 1 : The items are correctly categorized as taxable in your transactions.
Step 2 : Double-check that the tax rates and HSN codes are accurately assigned to each item.
Step 3 : This will ensure that the taxable value is properly calculated and displayed in your GSTR-2 report.
I am unable to find the tax payment entries I made earlier. Where can I locate them?
To find the tax payment entries in BUSY, follow these steps:
Step 1: Go to Display section then click on GST summaries option.
Step 2: Now choose GST summary then specify data range and open the report
Step 3: Navigate to tax payable with payment details and then click on specific GST type like IGST, CGST, SGST as needed. Select the payment option, and you can then review the payment entry.
I want to track expenses and generate expense reports in BUSY. What is the process for this?
To track expenses and generate expense reports in BUSY, you can follow these steps:
Step 1: Enter expense transactions into BUSY through journal entry.
Step 2: Assign each expense transaction with gst nature in the journal entry .
Step 3: Generate Expense Reports go to the display menu .
Step 4: select GSt Reports
Step 5: click on GST Audit report .
Step 6: Select GST Audit report .
I am seeing incorrect or invalid data in my HSN summary report. How can I correct this?
If you are seeing incorrect or invalid data in your HSN,you can take several steps to correct this issue:
Step 1: Check if there are any inaccuracies in the HSN codes, product descriptions, quantities, or values.
Step 2: Reconciliation as GSTR-1 and GSTR-3B, to ensure consistency and accuracy in your reporting.
Step 3: Double-check that you are using the correct HSN codes for your products.
Step 4: Upadate product descriptions from gst misc. utilities.
I want to record a business-to-business transaction for registered expenses in the software. However, the ITC status is showing as "None" even though I did not set it to none. What should I do?
To record a business-to-business transaction for registered expenses in the software, you need to follow the below steps:
Step 1: Click on Transactions.
Step 2: Click on Payment, Receipt, or Journal.
Step 3: Click on Add.
Step 4: Specify Required Details
Step 5: Select Registered in GST Nature
Step 6: Specify the required details and set the ITC status to registered expense.
Step 7: Click on Save.
I am unable to separate the freight charges in the Supply Output Register report. How can I customize this report to show freight charges in a separate column?
to separate the freight charges in the Supply Output Register report. in BUSYhere are some steps to resolve this issue:
Step 1: Add new invoice from transaction menu .
Step 2 : Select sales option and then ADD
Step 3: add relavant information in invoice , item name , priice , quantity , tax amount etc.
Step 4: Add bill sundry forpackaging and forwarding charges
Step 5: and Save the Invoice
I want to export GST return data from BUSY in a format grouped by party name. Can this be done? The default export does not have this option.
To export GST return data from BUSY grouped by party name, then you can follow below steps :
Step 1:Go to the report level by pressing F5 key or clicking on the summary option at the top.
Step 2:Choose the summarised option and select the data field column, in this case, choose party name.
Step 3:Opt for auto-summary to open the report by default with the summary format in the future.
I want to adjust the tax liability for a canceled invoice. What is the correct procedure for adjusting tax liabilities for canceled invoices in BUSY?
Tax liability is automatically adjusted when voucher got cancel. For adjusting tax liability of the cancel voucher, you need to post credit note of the liability raised. Further, please follow below mentioned steps for voucher posting.
Step 1 : Go to transaction tab and click on add credit note w/o.
Step 2: Debit your Party and Tax account & credit your purchase account.
Step 3: Specif orginal voucher number and date of the invoice.
I want to see input and output GST details for the date range of last financial year. Is it possible to generate this in BUSY?
to see input and output GST details for the date range of last financial year follow these steps
step 1: firstly you need to switch in last F.Y
step 2: then go to the GST summary under Dispaly menu
step 3: open report for relevant date range and also there is other relevant details you can select as per required .
step 4: there you can see input and output GST details.